Benefits and Incentives for Solar Projects in Wisconsin
There is no energy source on earth that comes close to what can be harnessed from our very own sun. Investing in solar for your home or business has significant benefits. Plus, there are plenty of incentives available to Wisconsin residents to make solar a worthwhile investment.
Benefits of Investing in Solar Energy
Advancements in technology as well as increased demand for clean energy have made solar energy an affordable and practical investment. One of the best reasons to take advantage of incentives and invest in solar is the rising cost of electricity. Utility costs continue to go up, year after year. If you are like many homeowners, you are looking for the most effective ways to cut annual expenses; investing in solar is one of the best. Other benefits include:
- Installing solar PV panels on your Wisconsin rooftop could potentially save you tens of thousands of dollars in energy costs, over the years. Projected energy savings over a 20-year period are a few thousand dollars per year as a U.S. average.
- Solar power is a reliable energy source. The fact that the sun predictably rises and sets daily provides a good measure of energy security and reliability, even though cloud cover, which reduces the amount of power generated, is a less predictable factor.
- Solar power makes it possible to have energy independence. No fuel is required for solar panels to produce energy. Sunshine is abundant and free and cannot be cut off.
- Solar panels usually carry at least a 20-year warranty. There are no moving parts, and maintenance is very simple. Homeowners typically have years during which they have paid off all purchase and installation costs while continuing to reap the benefits of energy from the sun.
- Solar is a powerful job creator. According to experts, the money invested in solar power creates up to three times more jobs than funds invested in natural gas or coal.
Wisconsin Solar Project Incentives
There is no need to pay the full cost of solar panels for your home. There has been an ongoing federal tax credit offered by the United States Internal Revenue Service which has been extended through 2022! Take a look at the info here: Congress Extends Solar Tax Credit – Expenditures include:
- Labor costs for on-site preparation;
- Assembly or installation of the original system; and
- Wiring or piping to interconnect the solar panels to the home.
- If the federal tax credit is greater than the amount of tax liability, the excess amount of the credit can be carried to the succeeding taxable year.
In addition to the federal tax credit, you may be able to take advantage of Wisconsin’s Focus-on-Energy (FOE) program, which currently offers incentives of $600 per kW installed, up to $2,400.
Contact us today for a solar energy quote, and feel free to ask any questions you may have about solar and available incentives. We have a strong commitment to solar, which is easy to see for anyone who comes by our Milwaukee Avenue solar store in Burlington, WI.